Winnebago Industries announced Monday that it has entered an agreement to acquire Newmar Corporation for $344M.
Newmar is “a leading manufacturer of Class A and Super C motorized recreation vehicles,” Winnebago said in a news release.
“For over 50 years, Newmar has been a leader in the RV industry with a reputation for quality, innovation, and service that has enabled them to become the industry’s fastest growing brand of Class A motorhomes. The privately-owned company manufactures premium Class A luxury, diesel and gas, and Super C motorhomes and generated revenue of $661 million and an Adjusted EBITDA of $55.2 million as of LTM June 2019,” Winnebago said.
Winnebago Industries President and Chief Executive Officer Michael Happe said Newmar is a “natural fit.”
“Newmar’s dedication to manufacturing premium, high-end motorhomes makes it a natural fit with our portfolio of leading outdoor lifestyle brands and we look forward to welcoming Newmar to the Winnebago Industries family,” Happe said.
Newmar will operate as a distinct business unit within Winnebago Industries with its headquarters and manufacturing facilities remaining in Nappanee, Indiana.